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How can I get a quote request on Zillow? My request always yields 0 results???

We owe about $116,000 and our house which apraises at approx. $155,000-$160,000. We have a 30 fixed loan which we have had since 2003. We are wanting to refinance and take a small amount of cash out ($12,000). We have GREAT credit payment history but our debit to credit ratio could be better. credit score probably around 700-725.
  • August 16 2011 - Cabot
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Answers (6)

Check out James's NMLS #157788. Nothing adds up. Like the good old days. Where's the Pirate?

Happy funding, Rudi

  • August 16 2011
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James, don't you need an Arkansas license before you can offer mortgage assistance in Arkansas?
  • August 16 2011
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It looks to me that it primarily is that there are not that many people quoting in Arkansas.

That, and you likely will have to add mortgage insurance with that additional cash out, thus may not have any real savings.

Looking at the rate trends (click on chart to the right, and then click on interactive chart in the right margin, and then set your criterion in the left margin), it is only indicating 24 quotes in Arkansas for the week in that FICO range.

The average % rate for the nation for 30 yr fixed and that FICO range is about 4.1%; but for Arkansas, it is about 4.27.

The quotes that were coming in for Arkansas seem to be purchase loans rather than refinances, and especially no "cash out".
  • August 16 2011
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Is that really true James?  You advertise that you are a loan officer in Indiana, and now you are offering loans in Arkansas?
  • August 16 2011
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Get a hold of me I can help get you what you need.
  • August 16 2011
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To get an idea of what your home should appraiser for, try searching for recent sales in your neighborhood. Narrow the search to homes with similar square footage and room count. Keep in mind that a refinance appraisal is going to be pretty conservative and you should expect your home to value at the low end of the average sales price for homes in your area.

Many lenders, including the big banks will try to get you to pay an upfront application fee and/or appraisal fee. This can be a HUGE waste of money if your appraisal comes in low. With the new appraisal guidelines, they just have to blindly order an appraisal with your money and hope it comes back where the need it. 

Try to find a lender that is willing to pay for your appraisal and doesn't require you to pay any upfront fees. There are still lenders out there that will do this. You have nothing to lose if they pay for the appraisal.

Good luck with your refinance. May you get the best interest rate, the lowest fees and as much cash as your heart desires!

[self promotion deleted by Zillow moderator] Thank you!
  • August 16 2011
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